Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Tax Disclosure [Abstract]  
Schedule of loss before income taxes, domestic and foreign
Our loss before provision for income taxes was as follows (in thousands): 
 
Years Ended December 31,
 
2012
 
2011
 
2010
United States
$
(30,743
)
 
$
(17,474
)
 
$
(7,837
)
Foreign
156

 
1,165

 
(320
)
Loss before provision for income taxes
$
(30,587
)
 
$
(16,309
)
 
$
(8,157
)
Components of provision for income taxes
The components of the provision for income taxes are as follows (in thousands): 
 
Years Ended December 31,
 
2012
 
2011
 
2010
Current provision (benefit):
 
 
 
 
 
Federal
$

 
$
3

 
$
289

State
7

 
7

 
2

Foreign
178

 
82

 
(17
)
Total current provision
$
185

 
$
92

 
$
274

Deferred provision (benefit):
 
 
 
 
 
Federal
$
(62
)
 
$

 
$
(122
)
State
(7
)
 

 
(26
)
Foreign
154

 
149

 
258

Total deferred provision
$
85

 
$
149

 
$
110

Total provision for income taxes
$
270

 
$
241

 
$
384

Reconciliation of provision for income taxes calculated at the statutory rate to provision for income taxes
Reconciliation of the provision for income taxes calculated at the statutory rate to our provision for income taxes is as follows (in thousands): 
 
Years Ended December 31,
 
2012
 
2011
 
2010
Tax benefit at federal statutory rate
$
(10,399
)
 
$
(5,708
)
 
$
(2,858
)
State taxes
(1,063
)
 
(1,421
)
 
(245
)
Research and development credits

 
(83
)
 
56

Foreign operations taxed at different rates
7

 
(252
)
 
117

Stock-based compensation
312

 
1,241

 
1,020

Other nondeductible items
204

 
650

 
630

Change in federal statutory rate
1,493

 

 

Change in valuation allowance
9,716

 
5,814

 
1,664

Provision for income taxes
$
270

 
$
241

 
$
384

Significant components of our deferred tax assets and liabilities
Significant components of our deferred tax assets and liabilities are as follows (in thousands): 
 
December 31,
 
2012
 
2011
Deferred tax assets:
 
 
 
Federal, state and foreign net operating loss carryforwards
$
54,923

 
$
45,595

Federal and state credits
3,329

 
2,723

Deferred contract revenues
1,297

 
2,066

Stock compensation
4,464

 
5,327

Accrued compensation
2,090

 
3,224

Fixed assets
1,746

 
1,295

Acquired intangible assets
3,556

 
3,128

Unrealized gain/loss
166

 

Other
141

 
(3
)
Total deferred tax assets:
71,712

 
63,355

Deferred tax liabilities:
 
 
 
Other

 
(53
)
Total deferred tax liabilities:

 
(53
)
Valuation allowance
(71,692
)
 
(63,128
)
Net deferred tax assets
$
20

 
$
174

Summary of federal, state and foreign NOL carryforwards and federal research and development tax credits
The following table sets forth our federal, state and foreign NOL carryforwards and federal research and development tax credits as of December 31, 2012 (in thousands): 
 
December 31, 2012
 
Amount
 
Expiration
Years
Net operating losses, federal
$
152,323

 
 2022-2031
Net operating losses, state
123,395

 
 2015-2031
Tax credits, federal
3,876

 
 2022-2031
Tax credits, state
4,750

 
 Do not expire
Net operating losses, foreign
12,916

 
 Various
Tax credits, foreign
$
16

 
 Various
Reconciliation of the beginning and ending amount of unrecognized tax benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): 
 
December 31,
 
2012
 
2011
 
2010
Balance at beginning of year
$
6,611

 
$
6,492

 
$
5,899

Additions based on tax positions related to current year
718

 
470

 
593

Additions to tax provision of prior years
316

 
4

 

Reductions to tax provision of prior years
(29
)
 
(262
)
 

Lapse of the applicable statute of limitations
(187
)
 
(93
)
 

Balance at end of year
$
7,429

 
$
6,611

 
$
6,492